First National Bank (Ronan, MT)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
February 1, 1924
Location
Ronan, Montana (47.529, -114.102)
Bank Type
national
Charter Number
9864

Metadata

Receivership Details

Depositor recovery rate
31.5%
Date receivership started
1924-02-09
Date receivership terminated
1928-12-20
OCC cause of failure
Economic conditions
Share of assets assessed as good
14.0%
Share of assets assessed as doubtful
70.6%
Share of assets assessed as worthless
15.4%

Events (4)

1. October 4, 1910 Chartered
Source
historical_nic
2. February 1, 1924 Suspension
Cause
Local Banks
Cause Details
Closed as part of a wave of closures following the failure of the American Bank and Trust Company at Missoula.
Newspaper Excerpt
The institutions affected were ... the First National Bank at Ronan. ... All of the banks that closed Saturday ...
Source
newspapers
3. February 9, 1924 Receivership
Newspaper Excerpt
J. M. Swan has been appointed receiver of the First National bank of Ronan, one of the six rural banks that were closed recently as a sequel to the failure of the American Bank and Trust company at Missoula.
Source
newspapers
4. February 9, 1924 Receivership
Source
historical_nic

Newspaper Articles (12)

Article from The Producers News, February 1, 1924

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Article Text

THREE MORE BANKS CLOSE IN MONTANA OTHER WESTERN MONTANA INSTITUTIONS REPORTED IN STATE OF SUSPENDED ANIMATION. Missoula, Jan. 30.-Several other banks in western Montana were closed Saturday fallowing the closing Friday of the American Bank and Trust company here. The institutions affected were the Farmers' and Merchants' bank at -Plaine, the Thompson State Bank at Thompson Falls and the First National Bank at Ronan. John Dahlgren. president of the bank that closed here, is president also of two of the banks that failed to open their doors Saturday. Mr. Dahlgren says, however, that there is no connection between the smaller banks and the American Bank and Trust company. All of the banks that closed Saturday, excepting two, are state institutions.


Article from Lake County Herald, February 7, 1924

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Article Text

County Funds In Closed Banks.

Lake county had comparatively small deposits in the Farmers & Merchants bank of Pablo and the First National bank of Ronan, both of which closed their doors last week. The amount held by the Pablo bank was approximately $3,000 and in the Ronan bank about $2,000. In both instances the county was indemnified by personal bonds.

Bondsmen and bankers of Pablo and Ronan appeared before the county commissioners regarding their liability in connection with the closed banks. The county commissioners are endeavoring to secure additional security to protect the county funds in the banks at time of their suspension.


Article from The Butte Miner, February 24, 1924

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Article Text

Name St. Ignatius Man Ronan Bank Receiver

ST. IGNATIUS, Feb. 23.โ€”(Special.)โ€”J. M. Swan has been appointed receiver of the First National bank of Ronan, one of the six rural banks that were closed recently as a sequel to the failure of the American Bank and Trust company at Missoula. It is expected that at least two years will be required to untangle the affairs of the bank.

Mr. Swan has held the position of chief clerk at the local project for a number of years, and prior to coming here held responsible positions as accountant on other government reclamation projects, as well as with private concerns. The new position of trust to which he has been appointed is one that he has earned by faithful and efficient service.

The many local friends of the Swan family regret very much their departure from this community.


Article from The Valerian, November 13, 1925

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Article Text

Receiver for Three Banks

Riddick, who has been receiver of the First National bank Polson since closed year and half has resigned and has been succeeded Swan, who is of the by First National banks Ronan and Charlo. Mr. Swan will handle the afof all three banks and will be fairs assisted by Livingston.


Article from The Columbus News, November 19, 1925

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Article Text

Receiver for Three Banks

Riddick. has been receiver the First National bank Polson since closed and half has resigned and has been succeeded Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle fairs all three banks and will assisted by Livingston.


Article from The Melstone Messenger, November 19, 1925

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Article Text

Receiver for Three Banks

Riddick, who has been receiver of the First National bank of Polson since closed and half and has been succeeded has resigned receiver of the Swan, First National banks at Ronan and Swan will handle the afCharlo. Mr. fairs of all three banks and will be assisted by Livingston.


Article from The Kremlin Chancellor, November 20, 1925

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Article Text

Receiver for Three Banks who has been receiver the National bank Polson since closed year and half has resigned and has been succeeded by Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle the fairs all three banks and will be assisted by Livingston.


Article from The Liberty County Times, November 20, 1925

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Article Text

Receiver for Three Banks who has been receiver Riddick, National bank of Polson of the First closed and half ago, since it year has been succeeded has resigned and receiver of the Swan, who by banks Ronan and First National Swan will handle the afCharlo. Mr. banks and will be of all three fairs by Livingston. assisted


Article from The Troy Tribune, November 20, 1925

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Article Text

Receiver for Three Banks

Riddick, has been receiver the First National bank of Polson since closed year and half has resigned and has been succeeded who the by First National banks at Ronan and Mr. Swan will handle the Charlo. of all three banks and will be assisted by C. Livingston.


Article from Plevna Herald, November 20, 1925

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Article Text

Receiver for Banks

Riddick, who has of the First National bank of Polson since closed year and half has and Swan, who receiver the First National banks Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by Livingston.


Article from The Wibaux Pioneer-Gazette, November 26, 1925

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Article Text

Receiver for Three Banks Riddick

been receiver of the First National bank of Polson since closed year and half ago resigned and has been who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle all three banks and will assisted by Livingston.


Article from The Nashua Independent, November 26, 1925

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Article Text

Receiver for Three Banks

R. who has been receiver of the First National bank of Polson since closed and half ago, has resigned and has been succeeded by is receiver of the First National banks at Ronan and Mr. Swan will handle the affairs of all three banks and will be assisted by Livingston.